Health: Another day, another Medibio client win; it’s now up 166pc in a month
Health & Biotech
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Medibio (ASX: MEB) has surged again today after another client win. While today’s rise was only 9 per cent it has now gained 166 per cent in the last month.
Today’s catalyst was signing an agreement with Compass’ Australian division to trial its “ilumen” technology.
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Compass’ UK division signed on earlier in July but now its division Down Under will join its client list. Up to 300 employees will participate.
ilumen is a corporate wellness solution which provides employees with access to personalised support and education services and monitors digital biometric changes.
It screens for signs of depression, anxiety and stress and provides a “well-being snapshot”. iLumen can also operate through wearable devices.
“Compass Group Australia’s Health and Well-being strategy is very progressive and needed in today’s corporate wellness environment,” said senior vice president of corporate health Jennifer Solitario.
“We are pleased to work with Compass Group Australia in its efforts to support both their employees and ultimately their clients in improving mental well-being.”
Breast cancer detection play Volpara Health Technologies (ASX: VST) released its quarterly and cash receipts grew 137 per cent compared to last years’ corresponding quarter to NZ$2.3 million. Annualised Recurring Revenue was NZ$14.6 million and the company said it was on track to achieve its customer targets.
Medlab (ASX: MDC) has also announced a positive quarterly exceeding $3 million. Year on year revenue growth has exceeded 50 per cent as the company commercialises its products into Priceline and Terry White chemists. Medlab boss Sean Hall said this 4C “marks a unique milestone within the company, as it represents early revenue potential and signify a commercial turning point for the company”.
The company is also conducting a research program, undertaking clinical trials for its medical cannabis products. This includes one at Royal North Shore Hospital and it said early results were encouraging.
Hydrix (ASX: HYD) has jumped 5 per cent after announcing a US client win worth $3.3 million in the next 12-18 months. Angel Medical Systems will have their Guardian System cardiac monitor updated by Hydrix. This system can alert users of heart attacks before they happen. Angel CEO David Fischell said Hydrix’s “technological capability and regulatory skills make them an ideal development partner for us”.
Cann Group (ASX: CAN) made $2.3 million in sales last quarter – a 423 per cent increase on the previous financial year. The company told shareholders this coming quarter will be significant as it moves toward operating at scale. While supply will remain consistent, it is building a new facility out at Mildura and was granted a manufacturing licence for its Melbourne facilities.
Genetic Technologies (ASX: GTG) has fallen 17 per cent this morning upon news the NASDAQ were seeking to delist them because its minimum price bid fell below the US$1 minimum price. The company told shareholders it will try to regain compliance through a “ratio adjustment” but could not guarantee success.
And finally, Actinogen Medical (ASX: ACW) whose anti-Alzheimers’ drug failed its Phase II trial. It used its quarterly to remind shareholders the drug was safe and it will look at further uses this quarter. The company named mood disorders and schizophrenia as potential impairments that could be targeted.